Vale is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. (Yahoo Finance)
Commodities have been running hot this year due to inflation reports and geopolitical tensions; Nickel alone moved over 600% in a week but has since then retraced the entire move since LME had to adjust margin levels to save a short seller from imploding his firm.
The technicals show a long cup and handle that goes back to September of 2021. We are in the cup right now with breakout levels above 21.
Targets are suggested by Long Call Options which we are able to see in flow. Flow suggests targets of 22, 24 and 25 by September. RSI looks good as there has been plenty of pullbacks during this rally.
OptionsSwing Analyst
Daniel Betancourt
Commodities have been running hot this year due to inflation reports and geopolitical tensions; Nickel alone moved over 600% in a week but has since then retraced the entire move since LME had to adjust margin levels to save a short seller from imploding his firm.
The technicals show a long cup and handle that goes back to September of 2021. We are in the cup right now with breakout levels above 21.
Targets are suggested by Long Call Options which we are able to see in flow. Flow suggests targets of 22, 24 and 25 by September. RSI looks good as there has been plenty of pullbacks during this rally.
OptionsSwing Analyst
Daniel Betancourt
Trade active:
Breakout from range today. Currently consolidating above the level. Showing relative strength compared to the broader market.
Also, VALE and TSLA are working on an agreement!
Also, VALE and TSLA are working on an agreement!
Trade active:
Steady breakout so far. Options contracts are up 60% and still in full size. Next target is 22.
Education first, profits second.